Comprises a substantial ground floor shop currently trading as a Pilates Studio together with a 2-bed flat on the first floor, approached from the side.
Location
The premises are situated close to the junction with the High Road (A1000). East Finchley Underground Station (Northern Line) is within easy walking distance. Excellent road communications are afforded with Lyttleton Road (A1) and North Circular Road (A406) close by.
Accommodation
Ground floor: 1,606 sq ft
First floor: 564 sq ft
Terms
PRICE
£675,000 for the benefit of the freehold interest subject to the tenancies and incomes as above reflecting a gross yield of 6.66%.
TENANCIES & INCOMES
The shop is let to Pilates Nation Ltd for a term of 10 years from 20 December 2023 subject to rent review on 20 December 2027 & 4 yearly thereafter, outside of the Landlord & Tenant Act 1954.
There is a mutual option to break on 20 December 2027 subject to 6 months prior written notice.
A 3 months’ rent deposit (£6,450) is being held.
Current income £25,800 per annum exclusive.
The first floor flat, is let on an AST producing £18,900 per annum.
Total income: £44,700 per annum.
EPC
Shop: C; Flat: E
LEGAL COSTS
Each party to be responsible for their own costs incurred.